Eurostat

ProjectProgrammePortfolio

Crista Filip7 March 2017

Why use project management?...

• Very high no. of concurrent projects (+ 100)• Very high no. of different ”customers” and

contributors• Many projects with long duration (>50% last for

more than a year)• Many projects cross-cutting the organisation• Need for risk management, internal control, audit

trail• Transfer of skills and knowledge (mobility etc.)

What is a PM² Project?

What is a Project?

Temporary

Start & End Non routine Time, Cost, Quality…Product or Service

Unique Output Constraints

A project is:“A unique time limited endeavour which aims to produce a result to satisfy a customers’ need” (ISO def.)

Project management is:“The application of knowledge, skills, tools and techniques in a structured way to ensure the project meets the customers’ needs”

A program is a group of related projects that all contribute to the same business objective or benefit. The program as a whole has a clear, defined goal, and each project within the program assists in meeting those goals.

Programme Management

The programme concept “often refers to the collection of projects aimed towards the same goal;

a group of related projects managed in a coordinated way to obtain benefits and control not able to be derived from managing them individually ... to achieve the programme‘s strategic objectives

and benefits.“

(PM2 Methodology Guide)

A portfolio is "A high-level view of all the projects an organization is running in order to meet the business’s main strategic objectives. It could be every project across the entire company, a division, or a department."

According to project manager Bob Buttrick, while project management is about executing projects right, portfolio management is about executing the right projects.

While portfolios and programs focus on a higher-level view of an organization’s activities, a project is a single undertaking: a series of tasks that aims to produce a specific product, service, or benefit within a defined timeline.

Portfolio, Programme, Project Relationship

Strategic Planning

Portfolio ManagementOperations

(Everyday Work)

Strategic Objectives

Business Strategy

StrategyImplementation

Plan

Portfolio Analysis

& Reports

Main Artefacts

Programme/Project Management

Business Case Project

CharterProjectPlans

ProgressReports